CORPORATE HISTORY

PULSE DATA'S HISTORY

1985
  • Pulse Data Inc. incorporated under the Business Corporations Act (Canada).
1999
  • Pulse becomes a publicly traded corporation listed on the Canadian Venture Exchange.
2000
  • Pulse completes participation surveys totalling 130 gross kilometres of 2D seismic and 1,365 gross square kilometres of 3D seismic in northeast British Columbia and northwest Alberta.
2001
  • Pulse signs an area of mutual interest agreement covering 4,200 square kilometres in northeast British Columbia and northwest Alberta. Completes three joint venture agreements to shoot seismic data in those areas.
  • Purchases the software division of Seisland Surveys Ltd. Assets are transferred to a new company, Trango Technologies Inc.
  • Pulse begins trading on the Toronto Stock Exchange under the symbol PSD.
  • Purchases approximately 7,600 kilometres of 2D seismic data in the Zama region of northern Alberta, a 50 percent undivided interest in a 165-square-kilometre 3D seismic survey known as the Sith 3D, and completes five 3D participation seismic surveys totalling 343 net square kilometres in the Ladyfern area of northeast British Columbia through a joint venture.
2002
  • Pulse acquires all of the issued and outstanding trust units of ReQuest Income Trust, an income trust with a seismic data sales business, for $28.9 million.
  • Completes a $26.3 million financing with RoyNat Inc. to finance the purchase of ReQuest Income Trust.
  • Sells ReQuest Seismic Surveys Ltd.'s brokerage division to Calgary-based Divestco.com. The transaction allows Pulse to focus on building its data library and streamlining its operations.
  • Purchases 80 net square kilometres of 3D data in northeast British Columbia. Completes two 2D participation surveys totalling 75 kilometres in the Foothills region and five 3D participation surveys totalling 433 net square kilometres in the Buick area of northeast British Columbia.
2003
  • In the second quarter Pulse commences an 88-square-kilometre 3D participation survey program in the Kakwa area of northern Alberta. This program is completed in July at a net cost of $2.4 million.
  • On August 18, Pulse declares its first quarterly dividend of $0.0125 per common share.
  • Purchases a 67-square-kilometre 3D survey; four other 3D surveys and a 2D survey, which had been shot by Pulse under project management agreements.
  • Completes one 2D survey totalling 435 net kilometres in the Osborne River area of northeast British Columbia and northwest Alberta, and three participation programs covering a total of 597 square kilometres.
2004
  • Pulse shoots five participation 3D seismic surveys totalling 758 net square kilometres in northern Alberta, three of which were started in the previous year.
  • Completes six project management contracts for clients who wish to retain proprietary ownership of the acquired data.
  • Acquires all of the issued and outstanding shares of Mosaic Mapping Corporation, a LiDAR services company. Mosaic is later renamed Terrapoint.
  • Completes two 3D participation surveys totalling 361 net square kilometres in northwest Alberta.
  • In the fourth quarter, announces a Dividend Reinvestment and Optional Share Purchase Plan under which eligible shareholders may automatically reinvest their dividends in common shares of Pulse at 95 percent of the current market price.
2005
  • Pulse doubles quarterly dividend to annual rate of 10 cents per share.
  • Grows 3D database to 9,442 net square kilometres by acquiring 2,500 net square kilometres of newer 3D seismic data in south-central Alberta for $15.2 million.
  • Share price increases from $1.74 per share at year-end 2004 to $2.35 on the last day of trading in 2005, a 35 percent increase.
  • Repays $5.5 million in long-term debt, exiting the year with a solid ratio of long-term debt to annualized free cash flow of 1.1:1 and total long-term debt to shareholders' equity of 0.3:1.
2006
  • Data set acquisitions total $36.9 million, adding 17,682 net kilometres of 2D data and 461 net square kilometres of 3D data. Data acquisitions include Explor Data's Foothills Data Set, a 2D seismic data set covering the most highly prospective exploration areas remaining in Alberta, northeast British Columbia and Montana as well as areas in the Yukon and Northwest Territories.
  • In the first quarter increases the quarterly dividend to an annual rate of 15 cents per share, returning a total of $7.1 million to shareholders in 2006, making Pulse one of Canada's highest-yield dividend paying corporations.
  • Seismic data sales total $34.2 million, generating $17.8 million of free cash flow.
2007
  • Pulse announces a review of strategic alternatives for Pulse's LiDAR business unit, Terrapoint, designed to allow Pulse to focus on its core seismic data library business.
  • In May, Ken MacDonald retires after 22 years with Pulse, marking a 35-year career in the geophysical industry. On May 22, Douglas Cutts becomes Pulse's President and Chief Executive Officer.
  • Seismic data sales experience a 26 percent increase in the first half of 2007 over the first half of 2006. Seismic data sales of $10.6 million in the first quarter and $10.5 million in the second quarter result in a record first half for Pulse.
  • Pulse in July purchases the remaining 50 percent interest in the data set owned jointly with Arcis Corporation, for $11.1 million. The data covers primarily the Buick-Beatton and Ladyfern areas of northeast British Columbia and includes 1,388 net square kilometres of 3D seismic data and 65 net kilometres of 2D seismic data.
  • Pulse closes a private placement bought-deal financing of 6.4 million common shares at $2.70 per common share for gross proceeds of $17.4 million. The funds are used to finance the Arcis acquisition and a 3D seismic participation survey program of 150 net square kilometres.
  • In the third quarter Pulse increases the annual dividend by 33%, from $0.15 to $0.20 per common share. This is the third increase in the dividend since Pulse commenced paying dividends in 2003.
  • In July 2007, Pulse commences a 147 net square kilometre 3D participation survey in west-central Alberta which was completed and delivered by October 2007. While in the field Pulse makes the decision to conduct a spec survey for an additional 101 net square kilometres of 3D seismic data.